A family member loaned me a credit card to help finance some important purchases but we were not aware of the high interest rate. Now I want to transfer that balance to a card under my name with a zero interest APR card, with no balance transfer fee so I can pay it off faster. I need to know if this can be done.|||Both cards MUST be owned by the same person.
You can do this with a cash advance from the family member.
The fees for cash advances are pretty steep (to say the least).
And the limits are usually 1/2 of the available credit card limit.
The cash can be used to pay down your own credit card...|||You should be able to, but not sure if you can do that directly to someone else's account. If they can do that, they would not do it for another credit card from the same bank.
If you have balance transfer checks it is easy, because you could just deposit a check to your account and pay the other person off.
But just curious who does balance transfers with no fee, because most seem to have a 4% balance transfer fee, even if interest is 0%.|||No, you cannot. Both cards need to be in the same person's name.
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